Japan Telecom Co. reported 31.42 billion yen in consolidated pretax profit Wednesday, generating 8.11 billion yen in net profit on sales of 411.76 billion yen for fiscal 1997
This is the first time the firm has released its consolidated report, which reflects the business performance of Japan Telecom and its three affiliates -- Telecom Service Co., Japan Telecom Max Co. and Japan Telecom Create Co.
On an unconsolidated basis, Japan Telecom posted 30.84 billion yen in pretax profits, down 30.7 percent from the previous year. Sales increased 4.3 percent to 391.99 billion yen, but rate cuts and discounts in telephone charges cut into profits, company officials said.
For fiscal 1998, which ends in March 1999, the company expects pretax profits of 18.5 billion yen on a consolidated basis and 20 billion yen on an unconsolidated basis.